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There are many implications in altering penalty rates, according to a professor of employment relations

Worsening employee morale in the face of the global financial crisis is being underestimated by employers.

Despite 44 per cent of employees indicating that employee morale in their company has plummeted, only 26 per cent of employers acknowledge that workplace morale had dropped, recent research has revealed.

Discontent among employers is brewing, according to Steyn who said that although employees are aware of the importance of cutting costs, they don’t feel their companies are handling matters correctly. This is attributed to many Australian companies’ rapid crisis management strategies, which included slashing workforce-related costs through restructures and redundancies.

This simmering resentment is highlighted by a third of employees (32 per cent) agreeing with the statement “management thinks it doesn’t have to reward and recognise our work anymore because we should feel lucky to have a job right now”.